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Obama's Tax Deal: A Boon For Millionaires Or A 'Stealth Stimulus?'

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President Barack Obama makes statement in Washington after meeting with Democratic congressional leaders on a year-end bipartisan agreement to extend expiring tax cuts. (AP)
President Barack Obama makes statement in Washington after meeting with Democratic congressional leaders on a year-end bipartisan agreement to extend expiring tax cuts. (AP)

Angry Congressional Democrats are vowing to hold up President Obama's tax deal with Republicans . But who are the real winners and losers? About $120 billion will go to the wealthy in the form of a Bush-era tax cut extension and an estate tax cut. But some economists say the nearly $1 trillion deal is also an under-the-radar stimulus package, with an extension of long-term unemployment benefits, payroll and business tax cuts, and more tax credits for college tuition.

Jonathan Weisman of the Wall Street Journal says that while the president isn't calling it a stimulus, others are.  He also tells us about a rare flash of anger from the president, after Weisman asked President Obama a question at yesterday's press conference.

This segment aired on December 8, 2010.

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